In a continuing sell-off of Patrick Industries, Inc. (NASDAQ:PATK) stock, Jeffrey L. Et Al Gendell sold 59,659 shares of company stock, according to a disclosure filed with the Securities and Exchange Commission (SEC) dated Dec. 23, 2015. The shares were sold at an average price of $41.41 for a total transaction of $2,470,479.19, according to dakotafinancialnews.

As MHProNews has reported numerous times, Gendell Et Al has been unloading shares of Patrick stock since Nov. 2014, and according to our tally from our post on Dec. 22, 2015, has now sold 363,811 shares for a total transaction value of over $15 million.

The company’s 50-day moving average is $40.34 with a 200 day moving average price of $40.19. Patrick has a market capitalization of $654.94 million and a P/E ratio of 17.47. The firm has a 12 month low of $27.07 and a 12 month high of $48.00. (See chart.)

Patrick Industries, Inc. is a manufacturer of component products and distributor of building products and materials for the recreational vehicle and manufactured housing industries, as well as to other industrial markets. ##

(Graphic credit: dakotafinancialnews/yahoo.finance–200 day graph of Patrick Industries, Inc. stock)

Article submitted by Matthew J. Silver to Daily Business News-MHProNews.